Types of investments
Klarna, the Swedish fintech known for its buy-now-pay-later (BNPL) financial product, is negotiating to raise $650 million at a valuation of $6.5 billion, which is a very sharp comedown from the $45.6 billion tag in a June 2021 funding round led by SoftBank Group.
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BlackRock hires always generate headlines. The latest high-profile news is that the world’s largest asset manager has appointed Manish Mehta to the role of global head of human resources. Reuters first reported the news after accessing a company memo. He will also join the company’s global executive committee and will report to BlackRock head Larry Fink.
Vista Equity Partners may look to sell up to 50% of its stake in Fintech firm Finastra. The private equity shop could reach a deal worth more than $10 billion, including debt. Reports indicate that Vista Equity Partners is working with Goldman Sachs to locate potential buyers.
Bitcoin is the best performing asset year to date. After a power-packed rally during the first nine months of the year, the crypto is up 114% at $8,308.
In comparison, ‘also-ran’ traditional investments fared as follows: Tech stocks +31%; S&P500 +21%; Gold +17%; 10-year T-bond +1.6%.
Had it not been for a recent correction from the high of $12,900 in June, Bitcoin’s returns might have been even more impressive.
The EP Energy bankruptcy might have a pair of saviors. Apollo Global Management and Elliott Management have put together a rescue plan for the bankrupt firm. A deal would allow Apollo to keep control of the oil and gas developer.
The Apollo Decentralized Exchange (DEX) is open for business. Apollo Foundation has announced the launch of what it calls “a proprietary software package for the exchange of digital assets in peer-to-peer networks.”
Private equity giant KKR & Co wants to raise $1.5 billion for its third special situations fund. Reuters reported the June registration of KKR Special Situations Fund III. The private equity firm said during its Q2 conference call that it planned to raise capital for a new special situations fund.
David Tepper, the billionaire hedge fund manager, will soon return capital to investors as he shifts toward a family office. However, Tepper will continue to manage money for 15 lucky investors.
Digital currency may come to the Federal Reserve in the future. Philadelphia Federal Reserve President Patrick Harker expects that the U.S. central bank will begin issuing a digital currency.
McAfeeDex is poised to launch on Monday. Bitcoin advocate John McAfee announced the launch of his latest crypto project on Friday.
Crystal McKellar played Becky Slater on The Wonder Years. Her older sister is Danica McKellar, who played Winnie Cooper. And today, she faces a breach of contract lawsuit from Peter Thiel’s Mithril Capital Management. Put on your seatbelt…
Forever 21 is just the latest retailer to file bankruptcy and announce a wave of store closings. The news will impact Real Estate Investment Trusts that own mall properties (Mall REITs).
The Waratah Alternative Equity Income Fund gives investors access to one of the Group’s flagship strategies and star portfolio manager Jeannine LiChong.
The Waratah Alternative Equity Fund is the firm’s first liquid alternative mutual fund. It is a long-biased, actively managed portfolio of North American equities, with a focus on Canada. The fund can use options and short positions for risk protection.
Mutual fund giant Vanguard Group has started testing a peer-to-peer FX trading platform. The experiment is part of a partnership with Symbiont.
Paypal was a prominent absentee at a crucial strategy meeting of the Libra Association held in Washington Thursday.
The 28 member Libra Association backs Facebook’s globe-spanning plan for the Libra digital currency. According to a report in the Financial Times, the agenda for the meeting was the global groundswell of regulatory opposition to Libra.
A person familiar with the event confirmed to the FT that all members showed up for the meeting except PayPal.
Norway’s Government Pension Fund Global, Oslo, will cut its exposure to upstream energy production. The pension fund will cut 50 billion Norwegian kroner ($5.5 billion) in equity allocation from its investment portfolio.
IndexIQ launched the IQ Alternative Allocation Model, the first liquid alternative model on its platform, in collaboration with Nasdaq Dorsey Wright.
The IQ Alternative Allocation Model provides an absolute return strategy built around IndexIQ’s suite of liquid alternative ETFs.
The online platform will charge less than TDAmeritrade on a per-contract basis for options TradeStation, the online broker-dealer, has joined in the zero-commission trading frenzy. The company will begin offering commission-free trading to customers who use its web and mobile platforms for exchange-listed stocks, options and exchange-traded funds (ETFs). It will still charge $0.50 per…
For the first time in the US, a Samsung Pay user can transfer money internationally to 47 countries using their mobile.
Finablr, a UK-based and listed fintech, has partnered with Samsung Electronics to offer secure cross-border payments within Samsung Pay, the native mobile wallet. The consumer simply initiates the Money Transfer tool inside the app.
Today, the DailyAlts Playbook talks about the robot apocalypse on Wall Street, the Forbes 400, Zuckerberg’s billionaire statement, and LaVar Ball (sorry about that). The markets are in the red this morning as investors prepare for a fresh round of U.S. economic data.
Ford has developed an Artificial Intelligence-driven database that will accelerate its transition from automaker to a mobility company.
It is accordingly partnering with American cities to solve mobility challenges. City Insights is Ford Mobility’s artificial intelligence-based collection of decision-enabling tools, custom algorithms, and data services.
State Street, the huge custody bank which holds assets of over $30 trillion, may soon see a flood of blockchain-based digital assets. According to Jay Biancamano, State Street’s head of digital assets and blockchain in capital markets, historically illiquid assets may soon use the blockchain to become more liquid.
FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through the process. Multiple reports suggest that discussions are in the early stages of development.
No one thought setting up a globally acceptable cryptocurrency such as Facebook’s Libra would be easy. But the Libra Association’s upcoming meeting in Switzerland may show which of its members are in for the long haul.
Solel Partners began trading this week with $600 million AUM. According to Bloomberg, former Highfields Capital Management partners Craig Peskin and Peter Fleiss are leading the fund.